France's new president is betting that he can bring disaffected voters back into the liberal fold by combining openness with economic growth. What if he just makes them even angrier?

We live in a time of catastrophic political experiments. Americans are learning how far the institutions of civil society can protect democratic norms in the face of an autocratically minded president. The British are about to find out how much economic pain they can endure for the privilege of flipping the bird to Europe. Italians may soon hand the reins of power to a clown — literally.